Dr. Gene Shelp reports

CURRENT WATER INC. ANNOUNCES POSITIVE FORWARD-LOOKING 2023 FINANCIAL RESULTS

Current Water Technologies Inc. has released its 2023 audited financial statements (Dec. 31 year-end) showing a trend of growing revenue and significant net earnings.

Revenue for 2023 was $3,043,895, an increase of 41 per cent year-over-year. Net earnings for 2023 was $444,152, as compared with a loss of $1,052,777 in 2022.

Dr. Gene Shelp, chief executive officer, said: "We believe the 2023 results represent an important benchmark for continuing corporate success in 2024/2025. CWTI is engaged with respected leaders in North America, Europe and Australia in the municipal waste water and industrial process water/waste water treatment sectors, including agriculture/biogas, aquaculture, fertilizer, oil and gas, and mining. The company is currently transitioning from successful preliminary testing of its leading-edge technologies for the treatment of waste water for the production of high-purity hydrogen to on-site demonstration-scale projects, which should lead to the sale of commercial installations.

"Finally, following the disruptions of the COVID-19 pandemic, the costs and lead times for procuring electronic components have significantly increased. In response, CWTI has made substantial progress in developing its own proprietary electronic control systems to operate its equipment. These new systems feature custom PCB boards, tailored control programming logic, and advanced on-line monitoring and control capabilities. The adoption of these innovations is expected to considerably reduce both costs and lead times for delivering new equipment to clients."

About Current Water Technologies Inc.

Current Water Technologies is a technology company applying its patented and proprietary electrochemical technologies to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, that is, nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. Pumptronics Inc. operates as a division of the company and continue to function as an integrated pump station manufacturer specializing in custom design and automation.

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